What Nike's partnership with Amazon means for the company long-term remains to be seen, but it's paying instant dividends for its co-founder.
According to a report by Forbes, Phil Knight's net worth jumped $1.9 billion on Friday as of 2:15 p.m. EST, following an 11% stock surge by Nike at the close of markets on Thursday. The bump followed an earnings call during which Nike CEO Mark Parker confirmed the company's intentions to sell product through Amazon and better than expected fourth quarter earnings.
Knight now has an estimated net worth of $26.6 billion, making him the world's 29th richest person. He stepped down as chairman of Nike in June 2016, but remains its largest shareholder.